DSG Consumer Partners invests in Axys Nutrition Products Pvt Ltd (Axys), a Mumbai-based nutraceutical company developing evidence-based nutrition and nutraceutical products, under the brand name Nutrova. The company has raised an undisclosed amount in a pre-Series A round.
Founded by Akshay Pai in 2013, Nutrova’s mission is to develop research-driven products that provide measurable outcomes for a variety of health goals, enabling individuals to take charge of their health.
Commenting on the fundraise, Akshay Pai, Founder & CEO, Nutrova said “Our fundamental belief at Nutrova is that the right nutrition, properly delivered, can enable everyone to take charge of their health. We’re excited to partner with DSG on this journey to develop the best products possible and to make them easily accessible as well. The resources from this funding will enable us to continue our research-driven product development as well as to scale our team and presence. We are confident that DSG, with their experience in the consumer space, will provide us with invaluable guidance moving forward.”
Nutrova’s focus on evidence-based nutrition has led to two clinical studies measuring the efficacy of its products on an Indian population. Its skin health product Nutrova Collagen+Antioxidants is a combination of marine collagen peptides and a proprietary blend of natural antioxidants. The product has been through a clinical study measuring its effects on Indian skin, the results of which have been recently published in The Journal of Cosmetic Dermatology.
Deepak Shahdadpuri, Managing Director of DSG Consumer Partners said “DSGCP has actively been looking at best in class insurgent brands in India’s health and wellness segment, including nutraceuticals and supplements. As Indian consumers become more affluent, a larger share of wallet is spent on health & wellness. We believe that the evidence-based, clinical research centered approach adopted by Nutrova will be a very important purchase consideration for customers as awareness levels increase. Akshay has been focused on the science and data whilst building the business in a capital efficient manner. One of the very few businesses that is already breaking even at the time of our initial investment. We are excited to partner with him to build a leading brand in the premium nutraceuticals category.”
Nutrova currently focuses on two segments: (1) Skin and hair health and (2) Fitness and Weight Management.
Nutrova currently sells 8 SKUs including Nutrova Collagen + Antioxidants and Nutrova Antioxidants for skin health, Nutrova Kerastrength for hair health, Nutrova Complete Omega 3, Nutrova Functional Fibre, Nutrova Whey Protein Isolate and Nutrova Pea protein, a high quality, vegan source of protein, for fitness and weight management.